Lonmin Share Discussion Threads

[graham2405] 25/11/2015 10:58

Ah, those ever so grateful beneficiaries of the rights issue cash......

"Lonmin pays rock drill operators an equivalent of R80 000 p/m in Australia but for the same work in Marikana Lonmin refused a mere R12 500."

"The rockdrillers who risk their lives so that Lonmin CEOs and the like can earn millions"

"Join the campaign demanding Lonmin compensate widows & bring back money they looted"

#MinersShotDown

[lazyhisnibs] 25/11/2015 10:54

Careful,

6750 was refreshingly honest. Assuming Elvis is an investor rather than a professional defender/promoter of the share then he, dealy and you can't be faulted on your courage under fire.

In the same way Elvis wondered out loud last night if he was missing something about all of this (or words to that effect) so am I but for the market value to get back up (way back up) above the equivalence of the new funds surely platinum has to at least consolidate which perhaps it is trying to do but really who knows.

As to Graham's clarifications about PIC's role in this with that 25% I've been thinking that the PIC probably wouldn't wait till the last minute to find out if they have to buy perhaps more than they want but what they have committed to. In that case they would, I guess, be intermittent buyers in the mean time. Perhaps leaving the bulk till the last minute or after the last minute however it works for underwriters.

[ravenna23] 25/11/2015 10:47

Lazyhisnibs, it's Bapo, the guys that are getting the free shares in the rights issue to maintain their 3% share, and they are still suing because they do not think that is enough. This is a mess.

[graham2405] 25/11/2015 10:46

"Remember low Pt prices are low for everyone in the industry and now Lonmin is the strongest capitalised in the industry, so it will not go bust first...... Had we forgot that everyone?"

.......and yet you consider this an investment worthy of your time and bankroll.

Lots of better places to put your money.

Priceless

[lazyhisnibs] 25/11/2015 10:30

The press also mentioned a High Court action (possible or actual I don't know) by the people on who's land all or some of the mines sit. Kojak would likely know more about that and he also loves the accounts.

[billpap] 25/11/2015 10:26

By the way a new hashtag is trending in twitter, #minersshotdown ..Its a film just released about the Marikana massacre(good timing!) and people ask compensation from lonmin and the state..Now that the RI is underwritten,they know where their money is!!Anybody knows if there is a provision for this in Lonmin's balance sheet?

[deanroberthunt] 25/11/2015 10:25

doesn't matter whether it goes bust first or fifth, bust is bust!!

[elvisrocks] 25/11/2015 10:25

Remember low Pt prices are low for everyone in the industry and now Lonmin is the strongest capitalised in the industry, so it will not go bust first...... Had we forgot that everyone?

I think Yes, Elvis may in fact be a genius!

[deanroberthunt] 25/11/2015 10:22

if pm prices don't recover in 2016 this rights is just delaying the inevitable......which is it's insolvent.

[elvisrocks] 25/11/2015 10:17

LMI 1.14 LMIN 0.038, sounds good to me, arbitrage is closing. Eventually it will close to zero.

[chrisbr777] 25/11/2015 10:13

LMI 1.14 LMIN 0.038

[elvisrocks] 25/11/2015 10:13

What a tool rackers is, even Graham does not reach such levels. Watched panorama and now believes demand for Pt is suddenly going to disappear after the VW scandal!

...... think I'll send his nanny round to pull his Shorty Pants up, he needs a little help!

EDIT
Correction, no Graham is in the same league as rackers. Can you drop by and help him pull up his Shorty Pants Graham?

[graham2405] 25/11/2015 10:12

"BM: My focus right now is that there's nominal value in this company. We have impaired and the company's value today is R1.6bn. the market capitalisation is R100m. the value uplift is massive so I am focused on persuading my shareholders that it is the right thing for them in their interests to vote yes on 19 November".

.......and you trust this guy?

Best of luck with that then. ;-)

[elvisrocks] 25/11/2015 10:08

rackers, fancy seeing you here still, it's been a while, Shorty Pants still up I hope!

[elvisrocks] 25/11/2015 10:07

Billpap, your wit is (genuinely) funny, makes me laugh! Hadn't thought about that one, but genius I could be, and legendary singer I definitely am. I'll do everyone a free concert after the 11th as well.

Especially for Graham, here again is the point people keep missing.
------------------------------------
"BM: My focus right now is that there's nominal value in this company. We have impaired and the company's value today is R1.6bn. the market capitalisation is R100m. the value uplift is massive so I am focused on persuading my shareholders that it is the right thing for them in their interests to vote yes on 19 November".

[rackers1] 25/11/2015 10:05

hands up who is long this crock of sh1t from 25p ex rights ? hahaha
still pumping this dog too i see.

you lot watch panorama on monday about VW ?
explaining the farce that are catalytic converters and that they serve absolutely no purpose as they are programmed to fail outside of lab test conditions.
If there is any truth to this then pt, pd and rh all going dahhhhhhhhhn.

will be heartbreak hotel for some uh huh lol

laterz

[graham2405] 25/11/2015 10:05

"The only hope for lonmin losers is PIC or SARB to buy platinum as an ETF or reserve asset..Huge short covering in the futures will follow and Elvis will be considered as a genius!!!!"

PMSL.............

[graham2405] 25/11/2015 10:02

It's the rights issue that no one wants.......

Well all apart from the Directors and Staff.

Platinum $839 per oz.

Lonmin's consensus LOW = $1070 per oz

..........priceless

[billpap] 25/11/2015 10:00

The only hope for lonmin losers is PIC or SARB to buy platinum as an ETF or reserve asset..Huge short covering in the futures will follow and Elvis will be considered as a genius!!!!

[elvisrocks] 25/11/2015 09:58

Careful, it's not. It's easy to get confused, traders are buying up these forced sellers shares and making huge bucks by either washing several times over or going long (days or weeks). Volatility is a traders best friend.

Before this went ex-rights and when the 46:1 was announced the best price you could have bought at was 9p pretty much and then if you were paying cash an extra 46p for your rights shares (remember it fell from 16p to 8p but only for a matter of minutes at 8p).
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At 9p, TERP is 1.1702, right is 0.1702 so you have to sell/buy 5.87 rights to buy 1 share at 1p

"Had" the share fallen to 4p, TERP is 1.0638, right is 0.0638 so you have to sell/buy 15.67 rights to buy 1 share at 1p.

TERP is the game in town for PI's / II's whilst traders scalp big at these prices (or one or two institutions pick up what extra they can get).
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The above will sure confuse the hell out of chrisbr777 but Graham will catch on.
Kojak knows too, he's being opportunistic at these prices, and this is before the uplift that comes after the 11th.

[careful] 25/11/2015 09:45

the value of my holding lmi + lmin has fallen by 70% since they went ex rights.
this is valued at below zero pre rights now.
cap is effectively below cost of rights after fees and charges.

This is beginning to look like a huge mistake.

[chrisbr777] 25/11/2015 09:41

I think Elvis should pile straight into these rights. Buy up a truckload. If they are so valuable. Heck, even take on some leverage for the next 3 weeks.

[bouka1] 25/11/2015 09:34

SUB 1P --OVER VALUED CURRENTLY ABOUT 20 %

[careful] 25/11/2015 09:05

it is all meaningless.
just like runners in the london marathon jostling on the starting line.
about dec 31st for the fog to clear.
no serious investor will be trading this lot.
are you so blind that you cannot see the trading option has been effectively removed for pi's.